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Ethereum Challenged By Bearish Forces As Altcoin Eyes $3,051 Support

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Ethereum has faced significant selling pressure in recent trading sessions as broader market trends turn more bearish. After attempting to break above key resistance levels, ETH has encountered hurdles that suggest the prevailing trend is shifting toward a more negative outlook. As the price begins testing the $3,051 support, a potential breakdown could signal a deeper pullback, which might push ETH toward lower support levels.

Key factors contributing to this bearish sentiment include weakening buying interest, market-wide retracements, and technical indicators signaling further downside risks. Ethereum’s failure to maintain upward momentum, especially after hitting resistance, suggests that the bulls may be losing control, leaving the bears in the driver’s seat.

The $3,051 level is critical for the altcoin’s short-term outlook. If the price fails to hold above this support, it could accelerate the downward move, possibly targeting the next support zone. However, if ETH stabilizes here and shows signs of a bullish reversal, it may regain upward momentum and resume its recovery.

Technical Signals Point To Bearish Shift: What’s Next For ETH?

Ethereum’s technical indicators are painting a concerning picture of the cryptocurrency’s short-term outlook. The price action has struggled to break through key resistance levels, and recent downward movements suggest that the bulls may have lost control.

As of the time of writing, ETH’s price is still trading below the 4-hour Simple Moving Average (SMA), which suggests bearish pressure is still prevailing in the market. The 4-hour SMA serves as a short-term trend indicator, and when the price is below it, it typically indicates that selling pressure is dominating the market.

Ethereum
ETH’s bearish move pushes price below 4-hour SMA | Source: ETHUSDT on Tradingview.com

This failure to break above the SMA highlights the ongoing struggle for Ethereum to reclaim bullish momentum. Until ETH rises above and closes above the SMA, the downside risks remain intact, and the bears are likely to maintain control.

Furthermore, ETH’s Relative Strength Index (RSI) has been persistently staying within the bearish zone, reinforcing the negative outlook for Ethereum. Typically, an RSI reading below 50% indicates a lack of upward strength, implying that selling pressure outweighs buying interest in the market. In Ethereum’s case, the sustained positioning in the bearish zone signals that bulls are struggling to gain traction and push the price higher.

Can Ethereum Defend Against The Bears?

Currently, Ethereum’s price is approaching a crucial support level at $3,051, which has become a key point to watch as bearish pressure mounts. This support zone represents a potential floor for Ethereum, and its ability to hold above this level will be pivotal in determining the asset’s next move.

A successful defense of $3,051 could stabilize the price and spark a rebound toward the $3,360 resistance as it may encourage buyers to step in and halt more declines. However, if Ethereum fails to maintain this support and breaks below it, the bearish momentum might intensify, pushing the price toward lower levels.

Ethereum
ETH trading at $3,227 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image Unsplash, chart from Tradingview.com



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Ethereum Prognose: Vorübergehende Schwäche und Chance?

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Este artículo también está disponible en español.

Ethereum zählt nicht umsonst zu den wichtigsten Kryptowährungen der Welt. Die aktuelle Nummer 2 der Kryptowelt punktet vorwiegend mit seinen Anwendungen für ein dezentralisiertes Finanzwesen.

Hier stehen die sogenannten „Smart Contracts“ im Mittelpunkt des Interesses der Wirtschaft. Die „automatisierten“ Verträge benötigen keine zentrale Instanz mehr und schließen Banken zunehmend aus dem Finanzkreislauf aus.

Kurskorrektur vor dem nächsten Aufschwung

Angesichts dieser Innovation ist es nicht verwunderlich, dass das Ethereum-Netzwerk als zukunftssicher gilt. Trotzdem musste dessen Kryptowährung Ether zuletzt einen Einbruch von rund 10 Prozent hinnehmen. Jetzt befürchten die Anleger einen weiteren Kursrutsch.

Angesichts der bevorstehenden Amtsübernahme von Donald Trump in den USA hatten viele Investoren gehofft, dass es ab sofort nur noch bergauf gehen würde. Doch der Backlash kam, wie erwartet, schließlich gehören Korrekturen zur hohen Volatilität bei Kryptos.

Zusätzlich sorgte ein Ethereum-Wal für Unruhe, er schien die Geduld verloren zu haben und trennte sich von einem Teil seiner Positionen und nahm damit sogar Verluste in Kauf. Das ist erstaunlich, schließlich scheint die Krypto-Zukunft zumindest auf dem Papier rosig zu sein.

Kursgewinne vorweggenommen

Ethereum kann schließlich, genau wie Bitcoin, auf die ersten zugelassenen Spot-ETFs verweisen, die für eine stärkere Durchdringung der Märkte mit Ether sorgen sollten. Der ehemals unerbittliche Gegner Gary Gensler, seines Zeichens Chef der amerikanischen Wertpapierbehörde SEC, ist zurückgetreten und Donald Trump will alles unternehmen, um Krypto in den USA zu stärken.

Trotzdem zeigt Ethereum Schwäche und ist von seinem Allzeithoch weit entfernt. Mit der Zulassung des ersten ETH-Spot-ETFs stieg der Kurs zwar kurzfristig über die 4.000-Dollar-Marke, doch seither ging es bergab.

Quelle: Coinmarketcap.com

Lediglich vor einer Woche erlebte Ethereum wieder einen Aufstieg, der jedoch nur von kurzer Dauer war. Doch diese Entwicklung war auch bei der Zulassung der ersten Bitcoin-Spot-ETFs zu beobachten.

Die Märkte hatten die erhofften Kurssteigerungen schon zuvor vorweggenommen und benötigten einige Zeit, um die weiteren Entwicklungen zu analysieren und darauf zu reagieren. Das wird bei Ethereum offenbar nicht anders sein.

Neuer Schub nach Amtseinführung von Trump?

Die Geschichte von Ethereum zeigt jedenfalls, dass sich ETH im Januar eines Jahres zumeist als bullish erweist. Angesichts dieser Historie käme es nicht überraschend, wenn der Coin in den nächsten zwei Wochen wieder zulegen würde.

Rede Donald Trump

Zahlreiche Analysten zeigen sich jedenfalls optimistisch, dass mit der Inkraftsetzung der ersten Deregulierungsmaßnahmen der neuen US-Regierung der Kryptomarkt und damit auch Ethereum wieder deutliche Kursgewinne einfahren werden.

Alternative Solaxy

Wer als Investor hingegen eine Alternative zu Ethereum sucht, der könnte einen Blick auf den neuen Meme-Coin Solaxy ($SOLX) werfen. Dieser absolviert derzeit seinen Presale auf Ethereum, bildet jedoch aufgrund seiner technischen Ausgestaltung eine Brücke zur Blockchain von Solana.

Dort nutzt er als Multi-Chain-Coin günstige Kosten und Geschwindigkeit, um das Beste aus beiden Welten für sich zu generieren. 10 Millionen Euro sind innerhalb kürzester Zeit in das neue Projekt geflossen, das beweist, dass die Anleger an die Idee von Solaxy glauben.

Mit einem Preis von nur 0,0016 Dollar für 1 Solaxy ($SOLX) ist der Token noch preiswert, das könnte sich dramatisch ändern, wenn der Coin erst einmal auf einer der Kryptobörsen zum Kauf gelistet wird.

Alle Informationen zu Solaxy ($SOLX) finden sich auf den entsprechenden Seiten von X und Telegram.

 



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Ethereum Whales Absorb $1M Loss As Market Caution Intensifies

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



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ETH Recovers From Drop, Analyst Points At 2021 Rally

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Este artículo también está disponible en español.

After Monday’s drop, Ethereum (ETH) fell below key support levels and hit its lowest price since November. Nonetheless, several market watchers remain bullish, predicting a massive rally for the cryptocurrency this quarter.

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Ethereum Drops To Two Month Lows

Ethereum started the week with a significant correction, falling from the weekend range to its lowest price in two months. Over the weekend, Ethereum hovered between $3,200 and $3,340 after recovering from last week’s lows.

Amid this performance, crypto analyst Ali Martinez pointed out that ETH’s most critical resistance was between $3,360 and $3,450, where 4.37 million addresses bought 6.47 million ETH. The analyst also noted that the cryptocurrency’s key support was between the $3,066 and $3,160 price range, where 4.12 million addresses had bought 4.9 million ETH.

Ethereum tested this support zone during the December corrections, bouncing from the zone after the pullbacks. However, the king of Altcoins fell below this key support for the first time since November 9, hitting $2,920 on Monday.

After the 12% retrace from the weekend highs, ETH tested its post-election breakout level, confirming the $2,900 price range as support. Ethereum quickly bounced from this level, surging 9% to the $3,100-$3,200 range.

Crypto investor Miky Bull considers ETH’s recent performance the “perfect setup for a massive reversal.” The trader noted this could be the reversal that leads to a breakout from Ethereum’s inverse head and shoulders pattern.

The second-largest cryptocurrency by market capitalization has been forming a multi-month inverse head and shoulder pattern, as noted by several analysts, with its left shoulder formed around the $2,800 price range.

Rekt Capital had suggested that “any pullback close to the $3,000 level could see Ethereum develop a right shoulder.” Meanwhile, Miky Bull stated that the bullish setup targeted the $7,000 mark.

ETH Resembles 2021 Trajectory

Analyst Crypto Bullet pointed out that ETH’s chart resembled its 2021 behavior. The chart shows Ethereum saw a Double Top pattern during its rally over three years ago. Then, the cryptocurrency fell below the key support zone of $3,100, confirming the pattern.

ethereum
ETH’s chart resembled the 2021 ATH rally. Source: CryptoBullet on X

However, it reclaimed this level after consolidating for two weeks, which led to the breakout to ETH’s all-time high (ATH). According to the analyst, Ethereum is repeating this pattern after yesterday’s drop, suggesting that the cryptocurrency’s “worst-case scenario” would be hitting ATH levels again.

Daan Crypto Traders highlighted ETH’s historical performance during the start of the year, stating that “the percentages ETH does within its first few weeks of the year are pretty crazy.”

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CoinGlass data shows that Ethereum registered mostly negative weekly returns in the first weeks of 2024 but started a 6-week positive streak as February approached. This could suggest that ETH’s negative performance could be reversed in the coming weeks. Nonetheless, Daan advised investors to look at the quarterly returns for a better overview of seasonality.

As of this writing, ETH is trading at $3,230, a 3% increase in the daily timeframe.

Ethereum, eth, ethusdt
Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com



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